Prendio and Sister Company BioProcure Receive Equity Investment from Primus Capital
Summary
Prendio, a Boston, MA-based provider of cloud-based (Software-as-a-Service) eProcurement software and supplier marketplace solutions for life sciences, and sister company BioProcure, the leader in procure-to-pay support services for biotech, received a growth equity investment from Primus Capital. The investment will support continued organic growth, expansion into additional life sciences markets, and further innovation and product development. Built by a team of industry professionals with over 50 combined years of experience in biotech procurement, lab management, and finance, the company provides software designed to relieve the pain points felt by research teams struggling with cumbersome and inefficient procure-to-pay systems. Since 2007, BioProcure provides procurement services, accounts payable support, and other administrative assistance to research organizations. Its team has secured billions of dollars in cost savings for the biotech research organizations they serve, relieving lab teams of countless hours of administrative work, allowing them to invest more of their time and funding into their science and drive discovery faster.